The World Bank (WB) and UNICEF announced today that they will allocate $ 1 billion to promote education, skills and job training for young people in developing countries with the aim of improving their employment prospects.
"When millions of young people enter the workforce in developing countries, it is important to them and the entire world that they can find decent jobs," said WB Executive Director Kristalina Georgieva in a statement.
The new association will dedicate 1,000 million dollars in investments through Generation Unlimited (Generation without limits), a global initiative organized by Unicef.
Launched a little over six months ago, Generation Unlimited is a program that aims to help prepare 1,800 million young people in their transition to the world of work.
"With the right skills and opportunities, young people can drive global growth and prosperity, we must work together to invest in education, training, employment and entrepreneurship so they can reach their potential," added Georgieva.
The WB and Unicef intend to accelerate changes in formal education school programs so that skills and knowledge are aligned with the demands of the workplace and improve access to capacity plans outside of formal education, even in situations of crisis and areas prone to humanitarian emergencies.
Research cited by the WB show that approximately one third of today's youth, that is, some 620 million people, mostly women, do not have jobs or receive education or training.
In fact, young people are almost three times more likely than adults to be unemployed.
"Without dignified jobs and the dignity of work, millions of them will be excluded from the global progress towards growth, prosperity and stability," the experts of the multilateral institution noted in an analysis.
In this sense, the executive director of Unicef, Henrietta Fore, stressed the importance of investing to transform education systems in developing countries so that there is greater dedication to job training.
"Through this collaboration between the World Bank and Unicef, Generation Unlimited can help support this transformation and create a group of young people better prepared to form prosperous economies and peaceful societies," said Fore.